RELENDEX INCREASES MAXIMUM LOAN TO £5M AS A RESULT OF NEW FUNDING LINES
- Our maximum loan size has increased to £5million across the bridging, redevelopment and new-build residential sectors
- This is a significant step towards our lending target of £100million in the next calendar year
Our maximum loan size previously was £3m and the increase highlights a significant step towards achieving our 2019 lending target of £100m, as discussed last month. Loans will be available across the bridging, redevelopment and new-build residential sectors as well as commercial and industrial assets where circumstances allow.
CEO Michael Lynn said: ‘Our lending target is three times the amount we have lent to date and shows how quickly and effectively the business is growing. We are pleased that our track record of high quality loan propositions and good returns to lenders are proving an attractive proposition and we look forward to many more joining our platform in the coming months
We remain focused on the traditional property underwriting values that have allowed us to grow to this point and pride ourselves on our competitive terms, efficient and flexible processes as well as direct access to decision makers for borrowers. Relendex is actively looking for professional borrowers over a wide range of property backed opportunities.
The UK housing crisis presents a real opportunity for property developers and house builders, as long as they have access to finance. We believe that Relendex can play a significant role in supporting the industry, by providing competitive interest rates to our borrowers, as well as our lenders.’
